7/12/2013

Legislation unveiled Thursday by Sens. Elizabeth Warren, D-Mass., Maria Cantwell, D-Wash., John McCain, R-Ariz., and Angus King, I-Maine, would break up the biggest banks and force a separation of trading and banking activities, in effect reintroducing the Glass-Steagall Act. "The 21st Century Glass-Steagall Act will re-establish a wall between commercial and investment banking, make our financial system more stable and secure, and protect American families," Warren said.

Related Summaries